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Fidelity Investments recently filed an S-1 form for its Spot Ethereum ETF, which includes notable staking.
Fidelity’s filing marks a significant step toward mainstream acceptance of cryptocurrencies, particularly Ethereum, which is known for its smart contract capabilities and decentralized applications.
The inclusion of staking in the proposed ETF demonstrates Fidelity’s recognition of the dynamics within the crypto ecosystem, where staking plays a pivotal role in network security and governance.
Fidelity’s proposed Ethereum ETF joins a growing list of similar applications by various parties seeking to provide exposure to cryptocurrencies through traditional investment vehicles.
Notably, Valkyrie Digital Assets, WisdomTree Investments, BlackRock, Grayscale, and Franklin Templeton are among the companies that have applied for Ethereum ETFs, which will increase interest among institutional and retail investors alike for diverse crypto investment options. This reflects the growing demand.
Analyst: Ethereum ETF unlikely to be approved in May
Grayscale suggests previous Bitcoin ETF groundwork could impact Ether approval, but SEC subpoena raises concerns. Galaxy Digital’s Alex Thorne believes it is highly unlikely that the Ether ETF will be approved any time soon.
Craig Sahm, Grayscale’s chief legal officer, cited the SEC’s past engagement with Grayscale regarding the Bitcoin ETF as a reason for his optimism about the Ethereum ETF. Salm points to similarities in operational concerns and emphasizes that Ether is classified as a commodity futures.
Bitwise CIO Matt Hougan has indicated that the launch of the Ethereum ETF will be delayed until December, a change from his initial expectations in May. Hogan argues that Wall Street needs time to better understand Bitcoin (BTC) before embracing Ethereum (ETH) and its complexities.
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